Teacher Retirement System of Texas Has $1.50 Million Holdings in G-III Apparel Group, LTD. (NASDAQ:GIII)

Teacher Retirement System of Texas lessened its stake in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 38.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,846 shares of the textile maker's stock after selling 34,062 shares during the quarter. Teacher Retirement System of Texas owned about 0.12% of G-III Apparel Group worth $1,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in shares of G-III Apparel Group by 80.6% in the 4th quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock valued at $24,989,000 after purchasing an additional 341,870 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in G-III Apparel Group during the 4th quarter worth approximately $7,628,000. Point72 Asset Management L.P. boosted its stake in G-III Apparel Group by 111.7% during the 4th quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker's stock worth $12,432,000 after acquiring an additional 201,126 shares during the last quarter. Foundry Partners LLC bought a new position in G-III Apparel Group during the 4th quarter worth approximately $6,094,000. Finally, Raymond James Financial Inc. bought a new position in G-III Apparel Group during the 4th quarter worth approximately $5,428,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GIII shares. KeyCorp cut their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Barclays cut their price target on shares of G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, June 9th. Telsey Advisory Group lowered their price objective on shares of G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating on the stock in a report on Monday, June 9th. Wall Street Zen downgraded shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, UBS Group lowered their price objective on shares of G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $27.80.

Insider Buying and Selling

In other G-III Apparel Group news, Director Amigo Victor Herrero bought 5,000 shares of G-III Apparel Group stock in a transaction dated Tuesday, June 24th. The stock was bought at an average price of $21.95 per share, with a total value of $109,750.00. Following the completion of the transaction, the director owned 54,746 shares in the company, valued at $1,201,674.70. The trade was a 10.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.00% of the stock is currently owned by company insiders.

G-III Apparel Group Stock Performance

GIII traded down $0.67 during trading on Tuesday, reaching $23.28. 377,507 shares of the stock were exchanged, compared to its average volume of 578,529. The stock's 50 day moving average price is $24.96 and its two-hundred day moving average price is $26.99. G-III Apparel Group, LTD. has a twelve month low of $20.33 and a twelve month high of $36.18. The stock has a market cap of $1.01 billion, a P/E ratio of 5.39 and a beta of 1.38.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. G-III Apparel Group had a net margin of 6.20% and a return on equity of 12.65%. The firm had revenue of $583.61 million during the quarter, compared to analysts' expectations of $579.48 million. During the same period in the previous year, the business posted $0.12 earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts predict that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current fiscal year.

G-III Apparel Group Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.